Find the following. (Use the True Annual Interest Rate (APR) table. Round your answers to the nearest cent.) Finance No. of Amount Financed Payments Left Charge Payments $2600 $201 6 12 (a) the refund using the rule of 78 $ (b) the refund using the formula (c) the payoff using the rule of 78 $ (d) the payoff using the formula

College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 16E: Mortgage What is the monthly payment on a 30-year mortgage of $80,000 at 9% interest? What is the...
icon
Related questions
Question
Find the following. (Use the True Annual Interest Rate (APR) table. Round your answers to the nearest cent.)
Amount
Finance
Charge
$201
No. of
Payments
Payments
Left
Financed
$2600
12
6
(a) the refund using the rule of 78
$
(b) the refund using the formula
$
(c) the payoff using the rule of 78
$
(d) the payoff using the formula
$
Adelit!
UM-tamil.
Transcribed Image Text:Find the following. (Use the True Annual Interest Rate (APR) table. Round your answers to the nearest cent.) Amount Finance Charge $201 No. of Payments Payments Left Financed $2600 12 6 (a) the refund using the rule of 78 $ (b) the refund using the formula $ (c) the payoff using the rule of 78 $ (d) the payoff using the formula $ Adelit! UM-tamil.
Expert Solution
steps

Step by step

Solved in 3 steps

Blurred answer
Recommended textbooks for you
College Algebra
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning